Back to basics: sticky prices in the monetary transmission mechanism
I use the measures of frequency of price adjustment in Nakamura and Steinsson (2008) to show that stickier price industries have higher levels of output response to monetary policy shocks. Using a Vector Auto-regression model, I build different measures of response to a monetary policy shock of 14 U...
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| Formato: | Desconocido (Unknown) |
| Lenguaje: | Inglés (English) |
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Universidad de los Andes, Facultad de Economía, CEDE
2018
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| Acceso en línea: | http://hdl.handle.net/1992/8286 |